Meaning of Conciliation
Meaning of Conciliation-Like meditation, Conciliation is a flexible, classified, and interest-based process. The parties look to arrive at an amicable dispute settlement with the help of the conciliator, who acts as an impartial third party.
Conciliation is one of the non-restricting procedure of a fair third party, known as the conciliator, help the parties to a dispute in arriving at a mutually agreed settlement of the dispute. The ‘Arbitration and Conciliation Act 1996’ is an Act that manages domestic arbitration in India. It was altered in 2015 and further revision passed in Lok Sabha on 1 August 2019. The Government of India chose to change the Arbitration and Conciliation Act, 1996 by presenting the Arbitration and Conciliation (Amendment) Bill, 2015 in the Parliament. While trying to make arbitration a preferred method of settlement of business debates and making India a centre point of global business arbitration, the President of India on 23 October 2015 proclaimed an Ordinance (Arbitration and Conciliation (Amendment) Ordinance, 2015) correcting the Arbitration and Conciliation Act, 1996.
Conciliation is a voluntary process, where the parties included are allowed to determine and agree to solve their dispute by conciliation. The process is adaptable, permitting parties to define the time, structure and substance of the conciliation procedures. These procedures are mostly private. They are interest-based, as the conciliator will while proposing a settlement, not just consider the parties’ lawful positions, but also their; business, financial or personal interests.
Who is conciliator?
A conciliator is also known as Administrative Judge. He is a person who has the duty to help the parties of the dispute to resolve the dispute by making an agreement or by doing negotiation between the parties outside of the judicial court. He acts as a neutral party between the disputes so that he can settle the dispute of parties turning the dispute into court trial.